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NAAMSA Quarterly review of business conditions - 2nd Quarter 2018

NAAMSA Quarterly review of business conditions -  2nd Quarter 2018

QUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 2nd QUARTER 2018

NAAMSA’s quarterly review of business conditions for the South African motor vehicle manufacturing Industry, during the second quarter of 2018, as submitted to the Director-General, Department of Trade and Industry.

Industry vehicle sales, export and import statistics for 2000 through 2017, together with revised current projections for 2018 through 2020, are reflected on the attachment to the submission.

Key features: Second Quarter 2018

  • Second quarter 2018 industry employment remained stable and reflected a marginal decline in headcount of 72
  • Record aggregate investment by the major vehicle manufacturers in 2017 amounting to R8.17 billion
  • Sharp recovery in capacity utilisation in new car production, however, commercial vehicle production capacity utilisation remained under pressure affected by low utilisation levels at two plants
  • Domestic new vehicle sales improved, year on year, whilst export sales experienced pressure due to model changeovers
  • Expectations for 2018 are for modest growth in domestic sales, annual export sales numbers have been revised downwards
  • Medium to long term prospects for new vehicle exports and domestic production remained positive

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